Abcam price target raised to $25 from $22 at RBC Capital

RBC Capital analyst Charles Weston raised the firm’s price target on Abcam to $25 from $22 and keeps a Sector Perform rating on the shares. The company’s update calling for first-half growth of 10% – ahead of consensus estimates – suggests that Abcam has returned to historical monthly growth trajectory, the analyst tells investors in a research note. Abcam’s Transactional Net Promoter score was of +37 in June vs. +13 for the second half of 2022 was also reassuring given that there was potential for a lingering ERP impact, the firm added.